The Goldman Sachs Group Increases Robinhood Markets (NASDAQ:HOOD) Price Target to $20.00

Robinhood Markets (NASDAQ:HOOD) had its target price lifted by The Goldman Sachs Group from $18.00 to $20.00 in a report issued on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts also recently issued reports on HOOD. Piper Sandler lifted their price objective on Robinhood Markets from $12.50 to $17.00 and gave the company a neutral rating in a research report on Friday, April 12th. Mizuho lifted their price target on Robinhood Markets from $17.00 to $20.00 and gave the company a buy rating in a report on Tuesday, March 19th. Barclays increased their price objective on shares of Robinhood Markets from $11.00 to $16.00 and gave the stock an underweight rating in a report on Monday, April 8th. Sanford C. Bernstein initiated coverage on shares of Robinhood Markets in a research note on Thursday, March 14th. They issued an outperform rating and a $30.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Robinhood Markets from $10.00 to $12.00 and gave the stock an underweight rating in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $18.81.

Robinhood Markets Stock Performance

Shares of NASDAQ:HOOD opened at $17.08 on Monday. The company has a market capitalization of $14.94 billion, a PE ratio of -28.47 and a beta of 1.69. The company’s fifty day moving average is $16.83 and its 200-day moving average is $12.61. Robinhood Markets has a 52 week low of $7.91 and a 52 week high of $20.55.

Robinhood Markets (NASDAQ:HOOD) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. Robinhood Markets had a negative net margin of 29.01% and a negative return on equity of 7.87%. The firm had revenue of $471.00 million for the quarter, compared to analyst estimates of $454.73 million. During the same period in the previous year, the business earned ($0.19) earnings per share. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. On average, analysts forecast that Robinhood Markets will post 0.29 EPS for the current year.

Insider Activity

In related news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $18.67, for a total transaction of $4,667,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Vladimir Tenev sold 250,000 shares of Robinhood Markets stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $18.67, for a total transaction of $4,667,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Baiju Bhatt sold 482,667 shares of Robinhood Markets stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.10, for a total value of $7,288,271.70. Following the transaction, the insider now owns 36,045 shares in the company, valued at $544,279.50. The disclosure for this sale can be found here. Insiders have sold a total of 2,212,150 shares of company stock valued at $33,495,819 in the last 90 days. 20.81% of the stock is owned by company insiders.

Institutional Trading of Robinhood Markets

A number of large investors have recently bought and sold shares of the business. Spire Wealth Management acquired a new position in shares of Robinhood Markets in the fourth quarter valued at approximately $26,000. Covestor Ltd bought a new stake in Robinhood Markets in the 1st quarter valued at $28,000. Quantbot Technologies LP acquired a new position in Robinhood Markets in the 2nd quarter worth $28,000. Peoples Bank KS bought a new position in Robinhood Markets during the 3rd quarter worth about $29,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Robinhood Markets by 46.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,275 shares of the company’s stock valued at $29,000 after purchasing an additional 722 shares during the period. 93.27% of the stock is owned by institutional investors.

About Robinhood Markets

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.